Suppose All of the Major Computer Manufacturers Announced That Beginning

question 60

Multiple Choice

Suppose all of the major computer manufacturers announced that beginning next month there would be major price reductions on their computers. This would cause the current demand for computers to:

• A) increase.
• B) decrease.
• C) remain unchanged.
• D) increase and then decrease.

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Definitions:

Real Estate

Property consisting of land and the buildings on it, along with its natural resources.

Consideration

In contract law, the benefit or value that is exchanged between parties in a contract, making it binding and legally enforceable.

Deed of Trust

A document that conveys title to real property to a trustee as security for a loan until the grantor (borrower) pays the lender according to the terms of a loan.

Mortgage

A loan secured by the collateral of real estate property, where the borrower is obliged to pay back with a predetermined set of payments.